While the 2016 4C Spider will set you back by $53,900, Alfa's mid-sized sedan is also slated to premiere this summer with the Alfa SUV to follow soon. Marchionne plans to spend an estimated $5.9 billion on Alfa Romeo's future.

The Alfa Romeo SUV will be based on the same rear-wheel drive platform called the Giorgio as the sedan that is currently being developed by an engineering team led by former Ferrari managers according to Bloomberg's sources. Fiat Chrysler also declined to comment on specific Alfa Romeo product plans, but it is known that the $5.9 billion is set to be spent on launching eight new Alfa Romeos by 2018, including two SUVs to fight VAG and BMW.

FCA wishes to increase sales fivefold to 400,000 units annually, with a massive expansion expected in China and North America, where the brand has returned just recently with the 4C after leaving the US market (again) in 1995.

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While Alfa Romeo's problems at home cost Fiat Chrysler $165 million in Europe in the first nine months of 2014, the upcoming sedan and SUV are most likely to be produced at the Cassino plant near Rome, because Marchionne believes Alfa has to stay Italian in order to make it as a premium brand in the US.

If everything goes according to their plans, the sedan codenamed 'Giulia' will debut on June 24 to celebrate the brand's 105-year anniversary at the museum outside Milan where Alfa Romeo was founded.

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